"HORN IN" On Franchise / Business Ownership -August '18 Edition

[OrangeLarry]

 

“HORN IN" On Franchise / Business Ownership

a monthly post with blurbs, links, and other words-of-wisdom

regarding self-employment; career transition;

and franchise / business ownership;

as well as information for business owners

who may be interested in franchising their business.

  

August 2018

HOT DAMN… 30 days until kick-off and counting down...

It was on or about September 14, 1973 that I started spending a good portion of the fall season occupying a seat in Memorial Stadium. (It wasn’t yet named DKR Texas Memorial Stadium).   In my four+ decades of season tickets, I have seen many of UT’s best and some of the worst over this time period… Darrell K. Royal, Fred Akers, David McWilliams, John Mackovic, Mack Brown, Charlie Strong and now Tom Herman… two (2) Heisman Winners… one (1) National Championship… seven (7) SWC and three (3) Big 12 Championship teams…the last a faint memory way back in 2009. 

Unbelievable… UT has gone eight football seasons without winning the conference championship.  My hopes and prayers are for the 2018 Horns to return us to our rightful position as Conference Champions.  The next 30 days won’t go by fast enough!

 

Franchise Opportunity Knocks

Self-employment Beckons

Start answering the call right here.

News you can use to help you find

The right franchise / business opportunity for you.

 

Sick Of Making Money For Other People?

Perhaps “Franchisee / Business Owner” Should Be Your Next Job Title.

Because of today's changing job market and work environment, a significant number of present and former executives and managers are exploring business ownership as an alternative to keeping his / her present job or seeking another job. They know it is time for a change and achieving lifestyle needs is imperative.  Many have grown tired of life in “corporate America” … downsizing, rightsizing, corporate politics and bureaucracy.  It is a work-life full of stress, with little appreciation and minimal true “personal time”.  Work-Life balance is non-existent.  So, they are turning to franchising as a way to escape their dissatisfaction with corporate life.

I experienced the same transition in 2001 and have never looked back.

Especially prevalent today is the increasing number of millennials leaving corporate employment. Younger workers are re-inventing the conventional notion of employment, according to a survey by Deloitte of 10,455 millennials and 1,844 Gen Z respondents across 36 countries. Among millennials, 43% envision leaving their jobs within two years; only 28% seek to stay beyond five years. Employed Gen Z respondents (those following millennials into the workplace) express even less loyalty, with 61% saying they would leave within two years.  Respondents are disappointed that business leaders’ priorities don’t seem to align with their own. According to Deloitte, a majority of millennials in every market agrees with the statement that corporations "have no ambition beyond wanting to make money."

This leads to an important question for these folks to consider: What is the difference between getting a job and owning a franchise? There are definitely advantages and disadvantages to either choice. The right answer varies from person to person, based on what they want to achieve in life and how they feel about factors like risks and rewards.

As you evaluate the options - work for someone else as an employee or be a self-employed business owner, it is important to keep in mind these three key areas that differentiate the two:

• Income: Both a job and a franchise should provide you with an income. With a job, the income is typically clearly defined; you know what your salary is going to be and how often it is going to be paid to you.  There may also be non-fixed income (commissions or bonuses, for example) but that is still usually pretty easy to estimate in advance, so a job provides quite a bit of certainty in relation to income (assuming you are able to stay employed).   With a franchise, especially in the short run, your income is far less certain. It is quite common in a business startup to work for some period of time without any fixed income. Though the long-term income prospects may be quite a bit higher in a franchise, you need to make sure you have adequate reserves to live on while you are going through the initial ramping-up phase.
• Wealth: Having ownership in a business is the classic path to creating wealth. When you build a franchise business you are building an asset that grows in value and can eventually be sold--hopefully for quite a bit of money. This wealth payoff to the franchise owner is on top of the income received during the operation of the business. Owning a franchise involves taking more risk in the beginning, but the reward is that any wealth created through your efforts will accrue to you rather than to someone else (as it does when you have a job). This factor is very important to most people who choose to go the franchise route.

The Most Highly Paid Employees And The Wealthiest People In The Country

• Control: With a job, your control over your work efforts isn't very high. You basically have an employer who tells you what they want you to do and how they want you to do it. If you own a franchise, you are the employer who is telling others what you want done, and you are completely in charge of what you do at work. You are also responsible for establishing the values and mores’ of your business.  This fundamental difference is one that is very appealing to some people but uncomfortable or even frightening to others. As you evaluate which option is better for you, this is something you should carefully consider to make sure you go in the direction that best suits your personality.

The basic trade-off is pretty simple.  A job has more income certainty, (assuming you are able to keep your job), but owning a franchise has more wealth-creation potential and allows for greater control and independence.  Each person needs to evaluate the balance between these factors and determine which avenue works best for him or her.

 

Go confidently in the direction of your dream.

        Live the life you have imagined.

                                              -Henry David Thoreau

 

Three Key Points to Know when Working

with a Franchise Consultant

A franchise consultant should help you identify your professional, financial and lifestyle goals and then present you options which are aligned with those objectives.  The following  three points  will assist the consultant in showing you the “right” opportunites.

·  Need to understand your WHY!  Why are you exploring franchise ownership? Why are you interested in pursuing a career transition?  Is there a specific franchise, or type of business that you are interested in, and why? Are there some franchises you do not like, and why? Why now?

·  WHAT you like and don’t like is critical. What do you like about some companies over others? What categories are you drawn to for personal or professional reasons? What have you liked about your previous jobs or business? What have you not liked? What are your financial goals? What are your lifestyle needs?

·  And, need to understand HOW will you finance the initial investment of a franchise? Do you need funding? How do you see yourself as a franchise owner – active or passive? And if applicable, how is your family, partner, or friends going to be involved?

Be in business for yourself, not by yourself!  A franchise model can bring structure, support, and predictability.  An experienced franchise consultant will coach and guide you through a methodical process of learning and discovery.  

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ENTREPRENEURSHIP

Is Living A Few Years Of Your

Life Like Most People Won’t,

So That You Can Spend The

Rest Of Your Life Like

Most People Can’t.

                  -Unknown

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The following concept is a business opportunity and is not a franchise. 

It is a sales and project management oriented light manufacturing business.

Of all the concepts I have presented to my clients, this is my most favorite.  I really like this business and organization.  It validates extremely well and provides an opportunity to grow a large business from one location, rather than buying multiple territories.

 This business opportunity is unique in several different ways. One of the ways is how they are operated. 

• 60% are solely owned by a male.

• 6% are solely owned by a female. 

• 33% are owned and operated by a husband & wife. This is an unusually large percentage for the Franchise / Business Opportunity world, which is due to the fact that the couple can manage completely different projects and aspects of the business. 

• 1% are owned and operated by partners, including father-daughters, siblings, and general partnerships

Our economy has for generations been fueled by manufacturing, both heavy and light. Light manufacturing is an environment with no loud noises, no noxious odors, no dangerous chemicals, and no dangerous equipment. Much of the light manufacturing over the years has gone overseas due to economics.  Some manufacturing remains here due to different factors including; technology, unique raw materials, the need to be close to the customer, or the custom nature of small run production. Many individuals in our economy come from the world of manufacturing and have the desire to make a product from raw materials.  They like the processes involved in manufacturing. They like the tangible results of what they have made.  They like the single location nature of the industry, the regular hours it operates, the project scheduling, the ability to acquire the property in which they are located, and they understand the resale value of a manufacturing business. 

• Picture yourself in a manufacturing business where your staff makes a product from raw materials. Its custom production, so every day is different, and you will see tangible, visible results of your efforts driving home.
• It’s close to home, in a low overhead, business park location, operating Monday-Friday 9-5 (no nights, weekends, or holidays) with a small staff of career employees.
• There are no loud noises, noxious odors, or dangerous chemicals, even have carpeting on the floor.
• It’s a relationship business with repeat customers, where 30 of those customers can equal 75-80% of your revenue.  Many of those customers may be regional, national and even international in scope.
•  It’s a non-cash transaction business (check and charge), so when you are out seeing customers, you don’t have to worry about who’s holding the money.
• When you are ready to sell, it will sell for a greater multiple of cash flow than most business models because of the manufacturing sector you are in, the small core of repeat customers, and the profit margins obtainable due to the custom nature of the business.

This concept is a light manufacturing business   opportunity ….manage a light manufacturing business to achieve a high equity return.  This business has evolved and changed over the years due to advancements in technology and new materials.

It's personable, creative, rewarding and ideal for people-oriented individuals who have the desire to learn how to manage a sales and production business. The ongoing support and training provided along with state-of-the-art equipment will leave the competition behind. But most importantly, you own your business entirely and there are no royalties.

• Presently, there are 300+ of these businesses in the U.S. and Canada. 
• B2B operation, typically M-F, 9:00 to 5:00. 
• Enjoy a flexible and active lifestyle… An operation in San Antonio closes on Friday at 2:00 pm.  Some are only open M-Th and are closed on Friday.
• About 75% are closed the week between Christmas and New Year’s Day.
• Approximately 95% are closed on the Friday after Thanksgiving.
• About 33% are owned & operated by a husband & wife team.  Their business system allows husbands and wives to easily find a role / niche that is compatible with their respective interests / skills and still provide some work separation.  Very few of the franchise / business concepts available today, truly provide an effective business work environment for a husband – wife team.
• B2B rather than B2C resulting in larger sales transactions, with less emotional purchasing decisions.
• It is scalable…only need (1) location to grow a nice business.  Provides growth opportunity at lower investment cost through one (1) unit.
• Requires only a few “career-type” employees…you have greater control and less managerial hassle.
• Owner can handle the sales, or hire outside sales person(s).
• Project management type business…manage process & employees.
• Client Relationship … Consultative Sales>>>Service business>>>Repeat Business with 80% of Gross Sales Coming from Less than 30 Customers… This is a “relationship” business.
• Manufacturing businesses have the highest resale value…build equity for retirement.
• Every business is a potential customer.
• Business has synergistic opportunities with other operations.  Your operation does not have to manufacture all of the different products.  You can take an order from one of your customers and farm out the work to another operator and both make money on the sale.
• Business is not limited to your local area…you may have customers in other parts of the U.S. or the world.  Business located in the XYZ  area, but can sell and market product anywhere in the world.
• Ideal for people-oriented individuals who possess good interpersonal, communication and project management skills.
• Custom production providing opportunity for creativity. Producing a tangible product.  Every customer and job is different.  Oversee production from beginning to end.  A business that provides creativity and innovation, coupled with repetition.
• Don’t get stuck in the office all day.  Provides the environment for a combination of “inside” work tasks with “outside” marketing / sales activity.
• Company provides their owners a two (2) year Sales & Marketing program. 
  Their sales program is based on “relationship building” and turning your satisfied customers into an external sales force.
• Company has a 30+ year history of growth and success.
• Investment: $195,000  

If you would like additional information, or to discuss in further detail, please call or send me an email with phone number and a good day(s) / time(s) for me to call you.

********************************************************************************* 

Quick-serve Snack Food Concept

A quick-serve snack food restaurant serving specialty, gourmet French fries with over 20 different seasonings, sauces and toppings; and fountain drinks, bottled water and home-made milkshakes for beverages.

Our Menu offers three options to achieve simplicity and creativity: a Specialty Menu of ‘go-to’ topped fry baskets that promote popular national and local dishes; a Finger Food Favorites Menu comprised of classic fried appetizer-style dishes-Original Pizza Logs; Buffalo Crunch Rolls; Crispy Chicken Fingers; and our Dutch Style Menu, which allows customers to choose a fry and one of 15+ dipping sauces.

In addition to these items, customers are able to customize their baskets across six styles of fries and over 20 sauces, seasonings and toppings.

There is a familiar saying you hear often when referring to the Lone Star State-   "Everything is Big in Texas". Well, that saying sure rings true for one of the most unique and novel franchise brands to come onto the QSR scene in years.

Our presence is fixin' to get big and introduced to fellow Texans statewide in the coming months in our largest Texas markets: Austin, Dallas, Houston and San Antonio. This phenomenal growth spurt comes just over a year after opening our first Texas franchise unit in the Alamo City, Labor Day weekend of 2016. Now is the time for prospective business owners and opportunistic entrepreneurs to consider our exciting franchise model and discover for themselves an opportunity where timing really is and can be everything.

 Four (4) flexible Franchise Business Models are offered:

·   Food Truck/Trailer/Cart,

·   Inline (food court, no dining room)

·   Kiosk (free standing 12 x 20 unit) and

·   Brick and Mortar (free standing,drive thru, dining room).

Our flexible concepts fit any real estate format including freestanding restaurants, end caps, in-line sites, gas and convenience, airports, malls, outlet stores, entertainment and tourist districts, cinema, travel plazas, universities, as well as other retail environments. There simply is no other competitive QSR franchise brand offered to prospective franchisees with such flexibility of choice in business model, endless store location sites to consider, and all achieved at an attractive development cost range of $105,000 - $250,000 dependent on the business model selected.

We are currently looking for hard working, motivated individuals to join our growing list of franchisees. Franchise opportunities are currently available in communities and towns throughout Northern, Southern Eastern, and Western Texas, of all major metropolitan areas.

We are looking for regional development groups that have a proven track record and are community leaders who may already operate other local businesses, such as other multi-brand restaurant development groups, retail outlets, convenience store chain operators, and movie theater operators who have the passion and financial qualifications to develop anywhere from five (5) to fifty (50) restaurants in these regions across the state. We are looking for qualified candidates with career work experience in any field (no restaurant experience required) and that are dedicated to their fields of expertise with proven track records to join our Texas team.

Our Texas franchisees will have endless opportunities to grow quickly into successful multi-unit franchise operators supported by our Texas franchise development team based right in the heart of Texas, San Antonio.  The Texas Master Franchise is owned and operated by native Texas businessmen with a vast array of industry knowledge and seasoned track records as successful business owners. One of the Texas Master Franchisors is a Texas Ex.

Franchisees get unsurpassed local support and services in every stage of franchise development from start to finish.

⇒ Texas Master Tenant Broker and Site Selection Services

⇒ Local pre-opening, grand opening and ongoing training and operational support

⇒ Statewide vendor & supplier network customized for our Texas franchisees

⇒ Franchisee business planning, consulting, financial and coaching support and services.

If you would like additional information, or to discuss in further detail, please call or send me an email with phone number and a good day(s) / time(s) for me to call you.

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I highly recommend:

 If you are seeking top-quality financial / investment advice,

Teamwork Financial Group and Doug Moe...Texas Ex.

Doug is the CEO of Teamwork Financial Group in San Antonio.  He is an attorney and CPA.  He has provided valuable insight to me and my wife regarding investment / financial advice, including guidance on having a Will vs. Revocable Living Trust, re-balancing our investment portfolio, as well as assisting us move a portion of our IRA investments into Fixed Asset Annuities.  Over the past several months, I have had a number of very enjoyable meetings with Doug, since we have a tendency to spend time talking sports, as well as financial / investment stuff. Doug played basketball at UT in the 80s and is the son of Doug Moe, the former coach of the San Antonio Spurs. And, a great guy.

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Do You Need Furniture Repaired...

If so and in the San Antonio area, CALL Pat Bonney...Texas Ex... Owner of a Guardsman Furniture Pro. franchise...The Most Trusted Name in Furniture Repair. Pat was on the UT baseball team in the early 70s.  I have used Pat's service multiple times for a variety of furniture repairs in my business and home.  Great guy and fantastic service.     210-849-9663    Email: gfpsa@sbcglobal.net

 

Don't Just Change Your Curtains...

Change Your View. I Did. My Story 

 

2017 newsletters; as well as copies of 2016 and 2015 newsletters can be viewed by going to the Franchise Quest Website.  

Click on the Website link below, or go to:

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Resource Center > Newsletter

  

Small / medium size business owners:

Would you like to grow your business by franchising.

 

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I’m a coach, not a sales person.

 

Hook 'em.